Fisher Asset Management LLC Lowers Stake in ProPetro Holding Corp. (NYSE:PUMP)

Fisher Asset Management LLC reduced its holdings in shares of ProPetro Holding Corp. (NYSE:PUMP) by 1.0% in the fourth quarter, HoldingsChannel reports. The fund owned 1,533,702 shares of the company’s stock after selling 15,532 shares during the period. Fisher Asset Management LLC’s holdings in ProPetro were worth $14,309,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. GAMMA Investing LLC lifted its position in ProPetro by 38.0% during the 4th quarter. GAMMA Investing LLC now owns 4,446 shares of the company’s stock valued at $41,000 after acquiring an additional 1,225 shares during the period. KBC Group NV raised its holdings in ProPetro by 90.5% in the fourth quarter. KBC Group NV now owns 8,045 shares of the company’s stock worth $75,000 after buying an additional 3,821 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in ProPetro in the third quarter worth about $77,000. Ieq Capital LLC raised its holdings in ProPetro by 13.0% in the fourth quarter. Ieq Capital LLC now owns 13,604 shares of the company’s stock worth $127,000 after buying an additional 1,564 shares during the last quarter. Finally, Quantinno Capital Management LP purchased a new position in ProPetro in the third quarter worth about $134,000. 84.70% of the stock is owned by hedge funds and other institutional investors.

ProPetro Stock Performance

Shares of NYSE PUMP opened at $7.66 on Tuesday. The firm has a 50 day moving average of $9.45 and a 200 day moving average of $8.54. The company has a current ratio of 1.31, a quick ratio of 1.14 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $790.27 million, a price-to-earnings ratio of -5.72 and a beta of 1.98. ProPetro Holding Corp. has a 12-month low of $6.53 and a 12-month high of $11.17.

Analysts Set New Price Targets

PUMP has been the subject of several recent analyst reports. Barclays decreased their target price on shares of ProPetro from $12.00 to $11.00 and set an “overweight” rating for the company in a report on Monday. Stifel Nicolaus boosted their price objective on shares of ProPetro from $11.00 to $12.00 and gave the company a “buy” rating in a report on Friday, February 21st. Benchmark reissued a “hold” rating on shares of ProPetro in a report on Thursday, February 20th. Citigroup boosted their price objective on shares of ProPetro from $8.00 to $10.00 and gave the company a “neutral” rating in a report on Tuesday, January 7th. Finally, JPMorgan Chase & Co. raised shares of ProPetro from an “underweight” rating to a “neutral” rating and set a $10.00 price objective for the company in a report on Friday, December 6th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $10.75.

About ProPetro

ProPetro Holding Corp. operates as an integrated oilfield services company. The company provides hydraulic fracturing, wireline, cementing, and other complementary oilfield completion services to upstream oil and gas companies in the Permian Basin. ProPetro Holding Corp. was founded in 2007 and is headquartered in Midland, Texas.